By NNN-APP,
Washington : Prime Minister Yousaf Raza Gilani on Wednesday urged American businessmen to invest in Pakistan particularly in power sector and help meet economic challenges it was facing owing to global inflation.
The prime minister said this in his address to the American businessmen and CEOs at a breakfast meeting jointly organized by U.S Pakistan Business Council and the U.S Chamber of Commerce.
He stressed the need for strengthening economic and trade ties with the United States in diverse fields including power sector, education and defence.
Prime Minister Gilani highlighted the significance of forging strong bilateral relations between Pakistan and the United States.
Such relationship he said needed to be enhanced for the mutual benefit of the two countries.
He invited the US companies to invest in Pakistan and assured of providing full security to their money.
He said Pakistan’s economy was facing numerous challenges such as making adjustment in fiscal revenue and oil prices, tackling the inflation trend and improving demand and supply management.
The Prime Minister said, however, the government was converting these challenges into opportunities by making better plans and ensuring implementation.
He said if proper economic measures were taken on time Pakistan’s geographical location can help it build a strong economy.
The Prime Minister also spoke of electricity crisis in the country
and said the government accorded top priority to raising power generation ensure smooth functioning of industries and trade units.
He said the government was making investor-friendly policies and providing incentives to foreign businessmen to attract investment for power sector from all over the world.
He said the World Bank had organized Roundtable Energy Conference in Washington seeking investment for Pakistan’s Thar Coal Project to raise power generation. It received very good response from the US power companies and this would help the country overcome the crisis.
Gilani said the government in an effort to overcome food and energy crisis was considering to strengthen agricultural infrastructure.
This would help ensure attain self-sufficiency, utilise the country’s coal reserves and thus meet its energy requirements. He said “we were compelled to take some unpopular decisions such as those of raising electricity and fuel tariffs, for the benefit of the national economy.
Myron Brilliant, Vice President Asia U.S Chamber of Commerce presented the address of welcome.
He said the purpose of Prime Minister Gilani’s meeting with businessmen was to strengthen economic relations between the two countries and seek opportunities for developing trade in diverse fields.
Jay Collins, CEO Public Sector Group Citi said Pakistan was currently in a difficult economic situation but he hoped that the meeting between the business communities of two countries would help improve the conditions.
David Chavern, Executive Vice President and Chief Operating Officer also spoke on the need for improving trade ties between Pakistan and the United States.